Originally Posted by
nene
Not to mention when a free spending government runs into a fiscal problem, an "asset tax" will become their goto solution. It has in every other socialist country. First it will be on those with assets over $1million, and then it will come for all. The ROTH's, the 401K's, the property owners. Its really the only way to get to "equity" in our society.
My brother-in-law wrote a book on the topic. I found it informative.
https://www.amazon.com/Citizens-2-So.../dp/098283280X
Consider this:
1) A man digs ditches 40 hours a week and earns X and pays tax on every hour of income, and if his per hour earnings increase he pays more tax?
2) A rich trust fund kid hangs a Picasso on a wall and the Picasso appreciates by $1 mil. That person pays no tax.
Society requires taxation. Does taxation of labor make more sense than taxation of wealth?